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MARKET EYE -India's Strides Arcolab falls 3.8 pct on USFDA import alert against Italian unit
October 1, 2014 / 9:29 AM / 3 years ago

MARKET EYE -India's Strides Arcolab falls 3.8 pct on USFDA import alert against Italian unit

* Strides Arcolab falls as much as 3.8 percent, but
was last trading flat.
* Strides' Italian unit Beltapharm SPA received an import alert
on Monday, according to the U.S. FDA website.
(1.usa.gov/1tg34DK)
* Alert applies to skin care products, including Beneks
Cleartone Fast Action Cream, Beneks Cleartone Fast Action Gel
and Beneks Fashion Fair Cream.
* Company, however, says its Italian unit has only one drug
application approved for the U.S. market, Imiquimod cream, used
to treat some skin diseases. 
* Adds the products mentioned by the U.S. FDA in its import
alert are for an African customer.
* Says it has no role in the distribution of those products in
the United States.    
* "The Company is working with the U.S. FDA and the African
customer on the circumstances of how these products reached the
U.S. markets," Strides said in a filing to exchanges.
 

 (abhishek.vishnoi@thomsonreuters.com /
zeba.siddiqui@thomsonreuters.com)

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